RESEARCH ON IMPACT OF INTERNET NEWS OF CHINESE STOCK PRICE
The Internet is very influential in the securities market,and news reports have a certain relevance to the fluctuation of stock prices.This paper uses web crawler technology to collect news sample data,uses text mining and text classification technology to classify policy news into two categories:supportive news and inhibitory news,and empirically analyses the impact of different types of policy news on stock prices using the event study method.The conclusions are as follows:(1)Policy news will have a significant impact on individual company stocks;supportive policy news will have a positive impact on the stock market,and inhibitory policy news will have a negative impact on the stock market.(2)The significance of supportive policy news on the average abnormal return on stock price is higher than that of inhibitory policy news on the average abnormal return on stock price;and the impact generated by inhibitory policy news persists long after the report occurs.
policy newsweb spidertext miningevent study methodologyabnormal return
NETL
NSTL
万方数据
维普
